Damco noted seafreight setback but improved profits
The Maersk Group's logistics unit Damco, which has been struggling in recent years, made USD 20 million in the third quarter, though the deselection of non-profitable business in seafreight produced a 10 percent decline in volumes.
BY OLE ANDERSEN
Logistics company Damco delivered a USD 20 million net profit in the third quarter 2015, up from a deficit of USD 68 million in the same period last year. As such, the efforts to turn the severely negative developments at the company around seem to finally bear fruit after Maersk last year injected massive sums in Damco following large impairments on previous investments.
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